The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-02
CONDITION OF THE MARKETS
Better Prices for Wheat Cause Consider
able Animation Amongthe "Bulls."
vanced Prices-Inereased Business in Oats
Provisions Command Better Prices.
MONEY, BONDS AND STOCKS.

The Advance of Wednesday Fully Maintained
and supplemented by Higher Prices.
NEW YORK, Sept. Money on call was
active ct to 8 per ceat.. the last loan
being made at per cent, closing offered at ..
Prime mercantile paper. Z 40 per cent
Sterling exchange was steady but DULL OF
$3.50 for sixty day bills and 81 a33 for demand.
The total sales of stocks to-day were 374, 9O2
shares, including the following: Canada South
ern, 1880: Delaware, Lackawanna & Western.
1890; Erie, r. 905; Lake Shore, 800; Louis
vile g. Nashville, 1875; Missouri Pacific.
ii 900; Northwestern, 20. 435; Northern Pacific,
1000; Northern Pacific preferred. H. 200; Oregon
Il Trapscontinental 1850; Reading, assess
Aments all paid. Ga 800; St Paul. Al, 100; St Paul
vs. Omaha, 4, $50; Union Pacific, 500; Western
Union. Also.
The advance begun yesterday in the stock
market made further progress to-day, and no
reaction worthy CT the name occurred during
the entire day. At the same time the dealings
lacked the excitement and the gains were more
steady than those of yesterday. All the proml-
rent operators talked bul!ish. and backed their
talk by bnying orders. but the great bulk OF the
purchases were TO cover shorts The announce
znent Of the reduction in cable rates by the Com
mercial Company caused q halt 10 the ADVANCE
and the bears bid ap money TO per cent IN
The hone Of bringing about n decline, which was
successful in Western Union. but had little or
no effect upon the remainder The Grengers,
especially Northwestern and Northern Paeihc
preferred were most prominent early in the day,
bat Missouri Pacific Western Union and ST. Paui
later few of the specialties also made
marked ad vance during the day. The few sales
by London on the advance in the bank OF
England rate encouraged the bears" to resist
tie general current, but the ATTEMPT was gwen
up late in the day and the market became buoy
ant toward the close. The opening was gener-
ally strong. most stocks showing advances over
Yesterdays final prices OF from q ! per cent.
There active business, but 1t was con-
fined mostly to six eight fayorite stocks,
while the others rather quiet. There was
some hesitation a. the opening. but prices
soon began advance under the lead
of Northwestern. which joined by
ST. Paul and Northern Pacific preferred toward
noon. After that time the cable reduction
had the effect OF checking the buying, and the
market became dull and fractional losses were
sustained. The last hour, however, saw a COM
plete rally, and all the leading stocks moved up
sharply largely increased business, and the
close was active and strong at the best figures
reached. AS yesterday, everything is higher.
and Missouri Pacific is up 81; Northern Pacific
preferred, %; Oregon Navigation and Wheeling
Il Lake Erie. p; Colorado Coal, Omaha. Western
Union and Manhattan, 2; Texas Pacific and ST.
Paul, IL: Erie preferred. II; Pacific Mall Oregon
81 Transcontinental, Northern Pacific, North
western ana Canada Southern, IL.
Railroad bonds showed more of the activity
and but little of the strength displayed in shares;
sales. s797. 900. Northwestern gold bonds rose
B. to 129 Greatwestern frsts, 4; to ia; Colorado
Coal Sc, 24, TO 49, st. Paul gold bonds lost 2, at
kl28; Erie fives, 2, at e5; Indianapolis, Blooming
ton 81 Western firsts. preferred 7s, B. at 120;
shenandoah Valley general, 81, at AZ.
Government bonds were dull but steady to
firm.
State bonds were neglected. Closing quota
tious were: